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The Financial Express

World Bank says no new plans for financing for Sri Lanka

| Updated: July 30, 2022 11:56:22


People stand next to their empty cylinders as they wait in a queue to buy domestic cooking gas, amid the country's economic crisis, in Colombo, Sri Lanka on July 23, 2022 — Reuters photo People stand next to their empty cylinders as they wait in a queue to buy domestic cooking gas, amid the country's economic crisis, in Colombo, Sri Lanka on July 23, 2022 — Reuters photo

The World Bank does not plan to offer new financing to Sri Lanka until an adequate macroeconomic policy framework is in place, it said in a statement on Thursday.

The World Bank stressed that Sri Lanka needs to enact structural reforms that focus on economic stabilisation and address the root structural causes that led to the crisis, reports Reuters.

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